Corporate News 20-Apr-23
Board of Natco Pharma approves incorporation of subsidiary in Indonesia
The Board of Natco Pharma at its meeting held on 20 April 2023 has approved the incorporation of a subsidiary in Indonesia with an investment of up to USD 3 million. The company will invest USD 1 million for a 51% stake as capital contribution and the balance will be invested by the company as and when the funds are required by the subsidiary. The balance 49% stake will be held by PT. Mitra Medis Exim (MME), that belongs to Mitra Jaya Group which is a 40 year old multi-diversified group, as the co-promoter of the proposed subsidiary Company. MME is in the business of distribution for active pharmaceutical ingredients and excipients for the end users in Indonesia.
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